Demyan Kudryavtsev will own 100% of Vedomosti

Pearson and Dow Jones have decided to withdraw from the shareholders of the newspaper.
Pearson and Dow Jones have agreed to sell their stakes in the business newspaper "Vedomosti" family Demyan Kudryavtsev, it follows from the joint soobscheniyaobeih companies. "We are very proud that we were able to work with the" Vedomosti "and for 15 years to contribute to the development of independent media in Russia - are reported words of the representatives of Pearson and Dow Jones. - We have entered into an agreement to sell its shares in the "Gazette" because of the adoption of the Russian law restricting the rights of foreign companies in the Russian media. "

Pearson and Dow Jones owns 33.3% of Cypriot companies Delovoi Standard Ltd., which in turn is owned by Russian JSC "Business News Media" - publisher of "Vedomosti" (Pearson shares owned it ran FT Group, which was sold in July, Japanese Nikkei). Terms of the deal and the price is not disclosed, the transaction will be closed by the end of the year.

Kudryavtsev pay for the paper based on the "standard market value of the coefficient", writes Financial Times, citing people familiar with the details of the agreement. The newspaper estimated more than 10 million euros, including debt, told "Vedomosti"a person close to the transaction parties.

Kudryavtsev - the former head of the publishing house "Kommersant" and founder of the agency "Clear Communication». He was a co-owner of "Vedomosti" in April of this year Kudryavtsev has acquired 33.3% of the Finnish edition of the publishing house Sanoma. Along with "Vedomosti" of Sanoma sells newspapers The Moscow Times and several publications included in the "United Press". The sum of these transactions is also not disclosed.

Demyan Kudryavtsev, bought a third, "Vedomosti" newspaper The Moscow Times and several magazines

Citizenship Kudryavtseva

At Demyan Kudryavtsev, until recently, was the citizenship of Israel, he told the TV channel "Rain". Familiar Kudryavtsev told "Vedomosti" that he refused from this citizenship. However, Israel does not have a form that confirms this denial, but the disclaimer does not accept Roskomnadzor. Therefore, he had recently re-register the newspaper The Moscow Times at his wife. A future edition may go into the possession of the family trust, which itself Kudryavtsev will belong to 20%. The same fate may befall "Vedomosti"Although a decision on this issue from the new owner of the newspaper there for another year.

"Vedomosti" published since 1999. Until the spring of this year in equal installments in the publication owned by Pearson to (publish newspapers Financial Times), Dow Jones, part of Rupert Murdoch's News Corp (publishes the newspaper The Wall Street Journal), and the Finnish Sanoma. However, in the autumn of last year, the State Duma passed a law forcing foreigners to sell their shares in the Russian media - they are not allowed to own more than 20% in the Russian editions (see incision.).

"I am delighted to be part of the newspaper" Vedomosti ", I am sure that in the future it will protect the interests of their readers promptly and impartially providing them with important information," - said Kudryavtsev "Vedomosti". But he acknowledged that it was "in a sense, forced to deal - it had to go because of the amendments to the media law limiting foreign ownership of companies in the Russian media." "I would like to be partners with the FT and the WSJ, whose expertise in the newspaper business for so long supported the" Vedomosti "on a high level", - he added.

"If the law does not change, our foreign ownerswould remain with the "Vedomosti"; and I, and all our editorial staff are very sorry that this was not possible, the partnership with these great publications was an honor for us, - said the chief editor of "Vedomosti" Tatiana Lisova. - They have not taken the opportunity to keep the 10% corporate reasons. " For what it is, she says.

According Kudryavtseva cooperation "Sheets" with the FT and the WSJ will continue in a different form: "We have signed a new agreement on the use of materials of these publications with the appropriate use of their brands." "Cap newspaper will be changed as from the closing of the transaction (when the ownership will be transferred to Demyan Kudryavtsev), we can not write in the logo" published in conjunction with The Wall Street Journal and Financial Times ", - clarified Lysov. - However, the logos of our partners in other forms will remain on the front page of the newspaper on an agreement on syndication, will remain in "Vedomosti" and the right to use the content of these two publications. "

«FT and The Wall Street Journal plans to continue to provide the" Vedomosti "licensed content to aAbzhan Russian readers with high-quality international news ", - said in a statement Pearson and Dow Jones.

Details of the deal have not commented Kudryavtsev. According to the source "Vedomosti" close to the participants in the negotiations, the buyer put some restrictive conditions on the sale of shares of Pearson and Dow Jones. In particular, Kudryavtsev will not be able to sell the "Vedomosti" newspaper to individuals or companies, relevant described Pearson and Dow Jones criteria. Fall Are these criteria, for example, state-owned media or competitors, the source "Vedomosti" did not elaborate. Also, the new shareholder will not without the approval of the editorial board to amend the articles of association of the newspaper "Vedomosti".

Kudryavtsev also not be able to sell the paper for some time, says FT, citing people familiar with the negotiations.

The change of ownership will not affect the editorial policy, since it defines the editor in chief - according to the law and according to the ordinance editorial says Lysov. Prior to completion of the transaction, according to her, the statute wording will be changed to clearly define the rights and powers of the Dshares and founder. "The new version of the statute considered all my requests, and subsequent changes in the charter will be possible only with the approval of the majority of full-time editorial staff," - she said.

"At a meeting with the editorial board Demyan Kudryavtsev said that he had no intention to change the editor in chief and he would like me to continue to work in the" Gazette "on the post - adds Lysov. - My desire to continue to work in the paper will depend on how you will develop cooperation with the new shareholder and its representatives. "

According Lysov, Kudryavtsev suggested she enter in the "Vedomosti" board of directors, owns: before that newspaper managers have never had a representative on the board. Now the board of directors composed of two representatives from the FT and the WSJ, the new year they will come out of it, Kudryavtsev said. "Also, the board consists of my colleagues Martin Pampadur and Vladimir Voronov, and since January, member of the board will be Tatiana Lisova, which will continue to lead" Vedomosti "newspaper as an editor in chief," - he said. However, neither the Ravens orPompadour are not co-owners of "Vedomosti", said a person close to the transaction parties.